PIP-03: Gasless March and Governance Users Reward Drop

Background

This is inspired by the Gasless Delegation announcement which aims at covering the gas fees for users to delegate their PUSH in order to take part in Push Governance voting. For users that have already completed this transaction and paid those gas fees this propose aims to retroactively reimburse those users.

Proposal Description

There are a few groups of addresses that have the ability to vote on the Push Governance Snapshot page. Those groups of holders include:

  • $PUSH holders that self-delegate
  • $PUSH holders that delegate to a Push Delegatee
  • Yield Farm stakers in the $PUSH & $ETH/PUSH LP farms)

The Gasless Delegation will cover fees for the first and second groups, and the Yield Farmers already receive amazing reward rates (and we love them the more for it!:smile:). So for all the delegators who have paid transaction fees (which depending on gas was up to $50) to take part in Push Governance voting we’re proposing a one time $PUSH reward drop to compensate for fees paid and also reward these valued users for their participation.
As of snapshot date, which was taken Feb 1, that group of addresses totals 26.
For the liquidity pool stakers in Uniswap-V2 $ETH/PUSH who are able to vote only if they’ve staked in our Yield Farms, the vast majortity are also doing just that and farming on our dapp (gotta love those degens!:smile:). There is a small group however who are staking in Uniswap but haven’t activated those LP tokens’ voting power. To do so they must stake into the Push Yield Farms, which means their transaction fees won’t be covered by Gasless Delegation. For that reason we included them in this group of addresses (totalling 14) to cover their deposit fees.
We wanted to be fair and consider all holders’ and stakers’ ability to activate their voting power. Once we found that this group who has done so already was relatively small it seemed only more appropriate that they should be recognized in this overall Gasless effort to cover their fees to entry.
Number of addresses: 40
Proposed $PUSH per address: 100 $PUSH
Total proposal cost: 4,000 $PUSH
Link to eligible addresses: Addresses Eligible for Push Governance Reward Drop - Google Sheets

In addition to leveling the playing field for all delegated addresses, we also want to promote the usage of this Gasless March initiative. We’re proposing to do so by including 30 random addresses who delegate this month the chance to win the very same amount!!

  • During Gasless March, all addresses that delegate will be eligible and 30 will be chosen randomly for this 100 $PUSH Reward Drop.
  • Users must hold 250 $PUSH or more to take advantage of this Gasless feature, but users with lower balances can still take part by delegating and covering gas fees as normal.

Number of addresses: 30
Proposed $PUSH per addressL 100 $PUSH
Total cost: 3,000 $PUSH
Link to Delegate: https://incentives.epns.io

Budget

7,000 $PUSH to be allocated from community treasury fund to the 40 eligible addresses and 30 randomly chosen delegating addresses during Gasless March.

2 Likes

Closing this proposal as it didn’t meet the criteria to be promoted Snapshot & has been inactive for more than 30 days. See the governance rules here.

However, if the community wishes to have this proposed again - it must start from the Governance Proposal phase again.